AirAsia's digital platform eyes more airline partnerships

Malaysian budget carrier AirAsia Group’s travel, e-commerce and fintech unit airasia.com is in partnership talks with several Middle Eastern and European airlines, its chief executive said on Wednesday.

Airasia.com CEO Karen Chan said the company was working on selling more flights on the online platform.

"Apart from just selling AirAsia flight tickets, we are now selling any airline's flights tickets. We are now in serious discussions with quite a few full-service carriers," Chan said at a CAPA — Centre for Aviation event.

She said the company was working closely with Middle Eastern airlines to drive traffic to pilgrimage destinations.

"Religious travel has taken a huge delay, and already we are getting a lot of requests from customers for pilgrimages," she said.

Airasia.com was also in talks with some European airlines, she said. "Once international borders are open, all of us are banking on pent-up demand," she said without providing details.

Last November, airasia.com announced a strategic partnership with Turkish Airlines for cross-promotion of its flight inventory with AirAsia flights, and offered travel itineraries with discounted fares.

"Now we can pull their content and inventory onto airasia.com's platform," Chan said. The company offers more than 15 lines of products online and via its super-app "to fly, to stay, to shop, to eat", an earlier media statement showed.

With the airline business taking a hit from the coronavirus pandemic, AirAsia Group last year rebranded its digital arm as AirAsia Digital, which houses airasia.com.

Malaysia's flagship budget airline AirAsia Group said last September it is considering raising capital to expand its digital business.

FBM KLCI charges ahead, up 15 points

 

KUALA LUMPUR: Gains from index-linked counters propelled the FBM KLCI to close higher alongside with the positive sentiment across the regional market on Wednesday.

At 5pm, the 30-stock index rose 15.58 points or 0.95% to 1,647.50 after opening 0.63 of-a-point lower at 1,631.55 this morning.

The market traded within a range of 25.06 points between an intra-day high of 1,652.59 and a low of 1,627.53 during the session.

Market breadth turned positive as gainers overpowered the losers on a ratio of 841-to-355 stocks. Traded volumes stood at 6.3 billion shares valued at RM3.41bil.

KLCI-component stocks were overwhelmingly in the positive, with 22 gainers, four decliners and four counters unchanged.

Dealers said sentiment was supported also by firmer key regional markets and local bourse was playing catching up after the recent bout of weakness.

Among the gainers, Heng Yuan rose 69 sen to RM5.69, KPower added 61 sen to RM6.55, Carlsberg gained 56 sen and Greatech advanced 52 sen to RM9.20.

KESM was the top loser on Bursa Malaysia, shedding 98 sen to RM12.30. F&N fell 94 sen to RM31.54, Petronas Gas declined 18 sen to RM17.30 and Supermax lost 13 sen to RM6.92.

Meanwhile, the ringgit was quoted at 4.0630, down 0.05% against the US dollar. The local currency was up 0.18% against the euro at 4.9528. It also declined 0.02% against the pound sterling at 5.4541 and down 0.18% against the Singapore dollar at 3.0475.

Brent crude futures fell 17 cents, or 0.34%, to US$49.91 a barrel while US West Texas Intermediate (WTI) crude futures slid 18 cents, or 0.38%, to US$46.84 a barrel.

Asia benchmark finished mostly higher today with Japan’s Nikkei 225 Index rose 0.33% to 26,524.79.

South Korea’s benchmark Kospi rose 26.14 points, or 0.96%, to 2,759.82, the sharpest daily gain since Dec 9, Reuters reported.

China’s Shanghai Composite index was up 0.76% at 3,382.32, while the blue-chip CSI300 index was up 0.85%.

Reuters reported that China's central bank will scale back support for the economy in 2021 and cool credit growth, but fears of derailing a recovery from a pandemic-induced slump and debt defaults are likely to prevent it from tightening any time soon, policy sources said.

KLCI extends profit-taking as year-end approaches

KUALA LUMPUR: The FBM KLCI ended Monday on a negative note, its third straight day of losses as profit-taking continued ahead of the year-end holiday season and fears of a new strain of coronavirus threatened the global recovery outlook.

At 5pm, the key index ended 4.6 points lower at 1,647.89, after having lost over 10 points earlier in the day.

Trading volume was 8.09 billion shares valued at RM3.67bil. Market breadth was negative with 848 decliners compared to 394 gainers.

An analyst speaking to StarBiz said the profit-taking in recent days was owing to thinning liquidity ahead of the coming festivities, especially after a strong rally in November.

Meanwhile, he believes that the euphoria surrounding the roll out of the Covid-19 vaccines could have been priced in for the short term.

"November and December data are starting to reflect the recent spike in Covid-19 cases and impact from targeted lockdown reimplementation," he added.

Over the next two days, the price action in the market could signal bullish investors' sentiment as seen during 2018's year-end rally.

"While investors had turned positive in 2018 due to the Fed's dovish turn on interest rates, market participants could similarly be energised by the US$900bil US fiscal stimulus this time around.

"On the flipside, given the already elevated share prices, market players could stay on the sidelines until 1H 2021," he said.

Bank stocks, which have been a driver of the market's rally earlier in the week, were seen mixed amid the broader retreat.

Maybank was up two sen to RM8.48, Public Bank rose two sen to RM20.66, CIMB dropped eight sen to RM4.30 and Hong Leong Bank was flat at RM18.58.

Global stocks were also seen stumbling on news that UK and other parts of Europe could face new lockdown measures following the discovery of a fast-spreading strain of the coronavirus.

The prospect of new economic shutdowns offset the news that US policymakers had reached a deal for a US$900bil relief package, resulting in mixed results in Asian markets.

MSCI index of Asia-Pacific shares ex-Japan slipped 0.2% after hitting successive new highs last week.

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Millions of Chinese investors rushed into July's stock market rally

 China reported the largest number of new stock investors in five years in July, as millions of individuals rushed into a buoyant share market, boosting trading turnover and brokerage earnings.

It represents a 60 per cent jump from a month earlier and a year-on-year increase of 124 per cent, according to the China Securities Depository and Clearing Corp (CSDC).

Investors sought high returns in a stock market that jumped over 10 per cent in July, helping boost turnover. Stamp duty income from securities trading rose 35.3 per cent year-on-year during the first seven months, compared with a 8.7 per cent fall in fiscal revenues as coronavirus hit the economy, official data shows.

How to use Technical Analysis to read Market Trends

We use technical analysis to detect trends in security prices. The theory to this is that stock prices are a matter of supply and demand. We use charts to interpret stock history. By evaluating price and volume, we may predict future movement of stocks based on past trends.

Identifying Trends: Our Market Experts use technical analysis to boost your returns.This method involves the study of price and volume data to predict the future trends of stocks.

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KLCI Cracks as Global Markets Face Recession

The FBM KLCI started Monday on a lighter footing as it snapped four-days of gains following the IMF's declaration that the corona virus pandemic had triggered a global recession.

Trading value on the stock exchange tapered somewhat to RM918.96mil on volume of 1.67 billion shares. There were 523 declining stocks to 230 gainers and 237 unchanged.

Across global markets, cash was taken out of equities as investors settled into the reality of an economic slump over the coming months.

Japan's Nikkei fell 2.85%, China's composite index sank 1.6% and South Korea's Kospi slid 1%.Hong Leong Bank led the market lower with a 62 sen decline to RM13.58. Public Bank shed 10 sen to RM15.80 while Maybank dipped five sen to RM7.32 and CIMB dropped eight sen to RM3.49.

KLSE Market News Today

The ringgit extended yesterday's uptrend to open higher against the US dollar Tuesday, ahead of Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) meeting today, with the market expecting a 25 basis point cut in interest rates today.

At 9.01am, the local note stood at 4.1990/2030 against the greenback from 4.2010/2040 recorded at 6pm on Monday.

Chocolate maker Guan Chong Bhd’s share price jumped 15 sen or 5.7% to an intraday high of RM2.78 today on news that its Singaporean subsidiary had concluded its acquisition of German chocolate maker Schokinag Holding GmbH for RM137.84 million at the end of January.

In a Bursa Malaysia filing yesterday, Guan Chong said its unit GCB Pte Ltd had completed the purchase of Schokinag on Jan 30.

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What Is a Robo-Advisor?

In 2014, Betterment launched the world's first robo-advisor with the aim of serving ordinary individuals who did not have enough assets to interest a skilled financial advisor, many of whom still require an account minimum of five- to six-figures and who charge 1% or more each year in assets under management (AUM).

What Is a Finanacial Advisor?

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Financial Advisor-Algorithm Hybrids

That said, several robo-advisors now do have financial advisors on-call to answer questions and provide assurances. However, unlike traditional financial advisors, many of the financial advisors hired by robo-advisors are unable to make specific investment recommendations or alter the client's portfolio weights—those are governed by the algorithm.

The Bottom Line

 Although financial advisors are more expensive and require larger starting amounts, and even though humans are prone to mistakes and implicit biases and errors, those costs and even those fallibilities can provide both value and solace

Technical Tips From Our Top Chart list.

Watch list for the Week- 

KOSSAN
HARTA
TOPGLOV
SUPERMX


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Bollinger bands

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Relative strength index (RSI)

RSI is mostly used to help traders identify momentum, market conditions and warning signals for dangerous price movements. RSI is expressed as a figure between 0 and 100. An asset around the 70 level is often considered overbought, while an asset at or near 30 is often considered oversold.

Ichimoku cloud

The Ichimoku Cloud, like many other technical indicators, identifies support and resistance levels. However, it also estimates price momentum and provides traders with signals to help them with their decision-making. The translation of ‘Ichimoku’ is ‘one-look equilibrium chart’ – which is exactly why this indicator is used by traders who need a lot of information from one chart.

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